Thursday, August 11, 2022

40 Chinese nationals booked for fraudulently becoming directors of Indian cos

Mumbai Police has booked 40 Chinese nationals for allegedly violating provisions of the Companies Act and fraudulently becoming the directors of Indian companies, as per a report by PTI. According to the report, the Economic Offences Wing (EOW) of the Mumbai Police has registered 34 FIRs against 150 individuals, including 40 Chinese nationals and 20 persons of other nationalities. Apart from section 447 (fraud) of the Companies Act, FIRs have also been registered under relevant sections of the Indian Penal Code (IPC), including cheating, criminal conspiracy and criminal breach of trust.

As per the PTI report, the complaint in the matter was filed by the Registrar of Companies (ROC). The complaints were registered at the Marine Drive police station. A preliminary probe has revealed that the accused had given false statements to the ROC, said an official cited in the news report.

Media reports also suggest that more than 30 Chartered Accountants (CA), 30 Company Secretaries (CS) and directors of companies have been named in the FIRs.

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